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The Latest Breaking News from IEA

Crude Oil Prices Surge as Middle East Tensions Flare Up

June WTI crude oil (CLM26 ) today is up +3.18 (+3.12%), and June RBOB gasoline (RBM26 ) is up +0.1323 (+3.68%). Crude oil and gasoline prices recovered from overnight losses and moved sharply higher on signs of heightened tensions in the Strait of Hormuz. Crude prices spiked higher after Iran's...

Barchart

France urges faster methane cuts as emissions remain at record high

France is using its G7 presidency to press for quicker global action on methane, as a major energy report warned emissions from fossil fuels remain stubbornly high.

Radio France Internationale

A closed Strait of Hormuz was once unthinkable

"The idea was laughed out of the room," one expert said when the scenario was discussed.

Axios

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‘Wake-up call’: methane emissions from Australian coalmines more than double official estimates, report finds

International Energy Agency findings show government must commit to rapid cuts in emissions of greenhouse gas, climate experts say

The Guardian - AU

Crude Prices Fall on Hopes for US-Iran Negotiations

June WTI crude oil (CLM26 ) on Friday closed down -3.13 (-2.98%), and June RBOB gasoline (RBM26 ) closed down -0.0198 (-0.55%). Crude oil and gasoline prices gave up early gains on Friday and settled sharply lower, with gasoline falling from a 3.75-year high. Crude prices came under pressure on...

Barchart

Crude Prices Tumble on Hopes Negotiations to End Iran War Will Resume

June WTI crude oil (CLM26 ) today is down -3.37 (-3.21%), and June RBOB gasoline (RBM26 ) is down -0.0448 (-1.24%). Crude oil and gasoline prices gave up early gains today and retreated , with gasoline falling from a 3.75-year high, on hopes that negotiations to end the US-Iran war...

Barchart

Signs of Weaker Energy Demand Fuel Long Liquidation in Crude Prices

June WTI crude oil (CLM26 ) today is down -2.01 (-1.88%), and June RBOB gasoline (RBM26 ) is down -0.0104 (-0.29%). Crude oil and gasoline prices gave up early gains today and fell sharply on concerns that higher energy prices are starting to curb demand and global economic growth. Long...

Barchart

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Crude Prices Surge With No End in Sight to US-Iran War

June WTI crude oil (CLM26 ) on Wednesday closed up +6.95 (+6.95%), and June RBOB gasoline (RBM26 ) closed up +0.1650 (+4.81%). Crude oil and gasoline prices extended this week's sharp rally on Wednesday, with crude oil posting a 3-week high and gasoline posting a 3.75-year high. Crude prices continue...

Barchart

Crude Prices Soar on Prospects for Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) today is up +5.18 (+5.18%), and June RBOB gasoline (RBM26 ) is up +0.1502 (+4.38%). Crude oil and gasoline prices extended this week's sharp rally today, with crude oil posting a 2-week high and gasoline posting a 3.75-year high. Crude prices continue to climb...

Barchart

Tighter Global Oil Supplies Underpin Crude Prices

June WTI crude oil (CLM26 ) on Tuesday closed up +3.56 (+3.69%), and June RBOB gasoline (RBM26 ) closed up +0.0623 (+1.85%). Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude oil posting a 2-week high, and gasoline posting a 3.75-year high. Crude prices...

Barchart

German chancellor says the U.S. 'is being humiliated by the Iranian leadership' as allies go public with discontent

Thailand’s foreign minister told The Washington Post the country is looking to Russia and China as the country grapples with an energy shock from the Iran war.

Fortune

Crude Prices Strengthen as Global Oil Supplies Tighten with Strait of Hormuz Closed

June WTI crude oil (CLM26 ) today is up +3.13 (+3.25%), and June RBOB gasoline (RBM26 ) is up +0.0241 (+0.72%). Crude oil and gasoline prices are sharply higher for a second day today, with crude oil posting a 2-week high, and gasoline posting a 3.75-year high. Crude prices continue...

Barchart

Why Australia has to boost fuel supply – and electrify transport

As Australia’s immediate fuel crunch eases after successful efforts to diversify supply, policymakers are turning their attention to dealing with the next energy security crisis.

The Conversation

EU energy mix: Crisis pushes balance on nuclear, renewables and security

The EU is pivoting back to nuclear after decades of hesitation, driven by the dual shock of the energy crisis and the realisation that renewables alone can't power a heavy industrial economy.

Euronews

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Euronews

Spain, France, Portugal: Renewables race heats up as governments scramble to keep energy bills down

"As long as we depend on oil and gas, we will continue to pay the price of other people's wars,” said French Prime Minister Sebastien Lecornu.

Barchart

Strait of Hormuz Closure Limits Energy Supplies and Supports Crude Oil Prices

June WTI crude oil (CLM26 ) on Monday closed up +1.97 (+2.09%), and June RBOB gasoline (RBM26 ) closed up +0.0372 (+1.12%). Crude oil and gasoline prices settled sharply higher on Monday, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US...

Barchart

Crude Oil Prices Rally on Stalled US-Iran Peace Talks

June WTI crude oil (CLM26 ) today is up +2.68 (+2.84%), and June RBOB gasoline (RBM26 ) is up +0.0602 (+1.81%). Crude oil and gasoline prices are sharply higher today, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US and Iran...

The Conversation

How freak weather and an old-fashioned grid exacerbate energy insecurity

The Iran crisis is reshaping how the world produces, uses and secures energy. This is no temporary shock. It has become a structural stress test of energy systems, industrial production and government strategy.

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Barchart

Crude Oil Prices Fall on Hopes Peace Negotiations With Iran Will Materialize

June WTI crude oil (CLM26 ) on Friday closed down -1.45 (-1.51%), and June RBOB gasoline (RBM26 ) closed down -0.0065 (-0.19%). Crude oil and gasoline prices gave up early gains on Friday and settled sharply lower after Pakistan said a second round of US-Iran peace talks is expected. Losses...

Barchart

Crude Oil Prices Slip on Hopes US-Iran Peace Talks to Resume

June WTI crude oil (CLM26 ) today is down -0.36 (-0.38%), and June RBOB gasoline (RBM26 ) is down -0.0073 (-0.22%). Crude oil and gasoline prices gave up early gains today and turned lower after Pakistan said a second round of US-Iran peace talks is expected. Optimism that the US...

The Guardian - UK

‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says

Exclusive: International Energy Agency’s Fatih Birol, the world’s leading energy economist, also says UK should largely forgo North Sea expansion

International Business Times UK

Lufthansa Cancels 20,000 Flights to Conserve Fuel, Other Airlines Got Spooked as Well

Lufthansa cancels 20,000 short-haul flights amid a jet fuel crisis caused by the war in Iran, impacting airlines globally. Delta Air Lines remains unaffected due to its oil refinery ownership.

Barchart

Crude Oil Prices Surge on Signs Iran War Will Persist

June WTI crude oil (CLM26 ) on Thursday closed up +2.89 (+3.11%), and June RBOB gasoline (RBM26 ) closed up +0.0858 (+2.65%). Crude oil and gasoline prices settled sharply higher on Thursday, with gasoline climbing to a 3.75-year high. Energy prices remain underpinned as the Strait of Hormuz remains essentially...

Barchart

Crude Oil Prices Underpinned as Iran War Tightens Global Oil Supplies

June WTI crude oil (CLM26 ) today is up +0.44 (+0.47%), and June RBOB gasoline (RBM26 ) is up +0.0093 (+0.29%). Crude oil and gasoline prices are moving higher today, with gasoline climbing to a 3.75-year high. Energy prices remain underpinned as the Strait of Hormuz remains essentially closed, threatening...

Fortune

‘The biggest energy security threat in history’: IEA chief warns 13 million barrels a day are gone with no cure in sight

IEA chief Fatih Birol says the world is losing 13 million barrels of oil a day, more than the two 1970s oil crises combined.

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